The 'Pradhan Mantri Awas Yojana - Urban' was launched in: MCQ with Answer and Explanation

Question

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The 'Pradhan Mantri Awas Yojana - Urban' was launched in:

A. 2013

B. 2016

C. 2015

D. 2018

Answer: Option C

Solution (By JKSSB Mock Tests)

PMAY-Urban was launched in 2015.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Tax elasticity measures the automatic response of tax revenue to changes in GDP:

A. without considering discretionary tax changes

B. after discretionary tax changes

C. considering only direct taxes

D. considering only indirect taxes

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Correct Answer: Option A

Explanation:
Tax elasticity measures the built-in response of tax revenue to GDP changes without discretionary changes.

This question belongs to: Economy GK Economy Set 1

Question #2

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The concept of 'Say's Law' states that:

A. Demand creates its own supply

B. Supply creates its own demand

C. Money is the most important factor

D. Government intervention is necessary

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Correct Answer: Option B

Explanation:
Say's Law of Markets, associated with classical economics, states that 'supply creates its own demand', implying that general overproduction is impossible.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'National Commission for Backward Classes' is constituted under which article?

A. Article 340

B. Article 342

C. Article 338B

D. Article 338

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Correct Answer: Option C

Explanation:
The National Commission for Backward Classes is constituted under Article 338B.

This question belongs to: Economy GK Economy Set 1

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